Natural gas, NGL, and crude oil sales revenues from the Company's continuing operations were $79 million compared to $67 million in the first quarter of 2012. The average realized sales price for natural gas, NGLs, and crude oil, including net realized gains on derivatives, was $52.80 per Boe for the first quarter of 2013, compared to $54.18 per Boe for the same 2012 period. The average realized sales price, excluding net realized gains on derivatives, was $47.71 per Boe for the first quarter of this year, compared to $47.18 per Boe for the first quarter of 2012.Commodity price risk management activities for the first quarter 2013 resulted in a net loss of $22 million for the first quarter of 2013. The loss was comprised of a $9 million net realized gain and a $31 million net unrealized loss. Unrealized losses in the first quarter of 2013 were primarily related to an upward shift in forward price curves for both natural gas and crude oil.
PDC Energy Announces 2013 First Quarter Results; Average Daily Production Increased 19%
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts